Business News
Deutsche Boerse chief says plans to fulfil his term as CEO
Deutsche Boerse Chief Executive Theodor Weimer said on Tuesday that he planned to complete his term through the end of 2024 at the helm of the stock exchange operator.
Year: 2020
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Zoom suspends new free user registrations in China
Free users in mainland China can continue to join meetings hosted by registered customers, whereas new user registrations are available only for enterprise customers who sign up through authorized sales representatives, according to a statement from the company. Nikkei first reported of the development saying the restriction on Chinese individual accounts on the Zoom app was due to “regulatory requirements” in the country, and the company has come under scrutiny from both the U.S. and China as trade tensions intensified. …read more […]
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Market pros have high hopes for a COVID-19 vaccine: Morning Brief
Top news and what to watch in the markets on Tuesday, May 19, 2020. …read more […]
Business News
Deutsche Boerse chief says plans to fulfill his term as CEO
Deutsche Boerse Chief Executive Theodor Weimer said on Tuesday that he planned to complete his term at the helm of the stock exchange operator.
Business News
‘Nothing off-limits’: Thyssenkrupp could sell steel business in historic shift
Thyssenkrupp could sell most of its steelmaking division, its CEO said on Tuesday, marking a historic reversal in strategy for the German conglomerate which has built its 200-year-old legacy as an industrial champion on the business.
Business News
Oil gains on signs of output cuts, improved demand
Oil prices rose slightly on Tuesday amid signs that producers are cutting output as promised just as demand picks up, stoked by more countries easing out of curbs imposed to counter the coronavirus pandemic.
Business News
Mitsubishi Motors’ annual profit tumbles, refrains from issuing forecast
Mitsubishi Motors Corp posted on Tuesday an 89% drop in annual operating profit for its weakest performance in three years and skipped the year-end dividend, as the coronavirus outbreak added to the Japanese automaker’s profitability woes.
Business News
Euro, Italian bonds cheer EU recovery fund plan
The euro and Italian government bonds continued on Tuesday to cheer German- and French-led plans for a 500 billion euro EU coronavirus recovery fund, though stock markets were suffering from fatigue after their best day in months.
Business News
Abu Dhabi’s Etihad cuts hundreds of jobs: sources
Abu Dhabi’s Etihad Airways has laid off hundreds of employees this month, including cabin crew, after the coronavirus pandemic forced it to ground flights, according to industry and company sources.
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Tesla’s China Car Registrations Plummet In April- LMC Auto
Tesla’s (TSLA) car registrations in China plummeted 64% in April, compared to March, according to consultancy firm LMC Automotive’s data.Specifically, the electric-vehicle maker’s China registrations dropped to 4,633 units from 12,709 units the previous month. This includes imported cars. “Tesla’s sales in the first month of each quarter are usually lower than the remaining two months” points out Reuters.Meanwhile sales of Tesla’s Model 3 sedan in China plunged 64% in April vs March, according to the China Passenger Car Association (CPCA). Tesla sold 3,635 Model 3 cars in April, a significant decrease from the 10,160 vehicles sold in March.Commenting on …read more […]
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Stocks Turn Lower With U.S. Futures; Oil Advances: Markets Wrap
(Bloomberg) — European stocks turned lower alongside U.S. equity futures on Tuesday as the risk-on mood that kicked-off the week faded. Oil prices rose for a fourth straight session.The Stoxx Europe 600 Index had opened in the green following news that Germany and France have backed a $546 billion, European Union-wide economic recovery fund. But after strong gains on Monday, the gauge couldn’t hold the move and reversed to trade lower. Contracts for the S&P 500 also pointed to a soft open having been up earlier. Asian equities rallied, tracking the big gains on Wall Street yesterday.Treasuries and European government …read more […]
Business News
Auto industry big part of Italy GDP, fair to back FCA for job creation: minister
The auto industry represents a significant share of Italy’s economy and it is right to support those who create jobs, Deputy Economy Minister Laura Castelli said when asked about Fiat Chrysler’s request for state-backed loans.
Business News
U.S. overtakes China as most attractive country for renewables investment: research
The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday.
Business News
Thyssenkrupp CEO: no taboos in steel consolidation plans
Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, with options ranging from selling a majority to buying peers.
Business News
Electric car sales to fall, but not as much as other vehicles: research
Worldwide electric car registrations are set to fall 18% this year, but those of combustion engine cars are set to drop even faster, analysts BloombergNEF (BNEF) said on Tuesday, as the automotive sector is hammered by the coronavirus crisis.